BIOTOP
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 13-10-2025 PDF all 28 filings
Turnover
≈ €1.1m
Estimated: probably between €650,000 and €1.8m
EBIT margin
Not included in this filing
Net result
€38,704
2024 · -€9,193
Working capital
€201,404▲ 18.5%
2024 · €169,911
In the rankings
#4 company by total assets in Welkenraedt, Manufacturing sector#4 company by equity in Welkenraedt, Manufacturing sector#9 oldest company in Welkenraedt, Manufacturing sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€46,984
▲ 155%
2025
20192025
Net result
€38,704
2025
middle half of the sector
20192025
Equity
€733,802
▲ 11.4%
2025
lowest quarter of the sector
20192025
Total assets
€1.8m
▼ 2.2%
2025
lowest quarter of the sector
20192025
Debt
€1.0m
▼ 10.0%
2025
20192025
Working capital
€201,404
▲ 18.5%
2025
lowest quarter of the sector
20192025
Solvency
41.7%
▲ 5.1pp
2025
middle half of the sector
20192025
Current ratio
1.68
▲ 0.13
2025
middle half of the sector
20192025
Return on assets (ROA)
2.2%
▲ 2.7pp
2025
middle half of the sector
20192025
Staff (FTE)
5.8
▲ 18.4%
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€0.07m-€0.1m▲ 89.6%€0.2m▲ 21.8%€0.2m▼ 6.3%-€0.004m€0.02m€0.05m▲ 155%
Net result€0.05m-€0.1mabove the sector's middle half▲ 80.9%€0.1mabove the sector's middle half▲ 45.1%€0.1mwithin the sector's middle half▲ 0.3%-€0.02mbelow the sector's middle half-€0.009mbelow the sector's middle half▲ 53.9%€0.04mwithin the sector's middle half
Equity€0.3m-€0.4mabove the sector's middle half▲ 30.0%€0.5mabove the sector's middle half▲ 30.9%€0.7mbelow the sector's middle half▲ 26.5%€0.7mbelow the sector's middle half▼ 3.5%€0.7mbelow the sector's middle half▼ 1.4%€0.7mbelow the sector's middle half▲ 11.4%
Total assets€0.5m-€0.8mabove the sector's middle half▲ 55.9%€2.0mabove the sector's middle half▲ 144%€2.2mbelow the sector's middle half▲ 9.0%€2.1mbelow the sector's middle half▼ 6.0%€1.8mbelow the sector's middle half▼ 13.2%€1.8mbelow the sector's middle half▼ 2.2%
Debt€0.2m-€0.4m▲ 95.1%€1.5m▲ 257%€1.5m▲ 2.5%€1.4m▼ 7.2%€1.1m▼ 18.9%€1.0m▼ 10.0%
Working capital€0.3m-€0.4mabove the sector's middle half▲ 35.7%€0.05mwithin the sector's middle half▼ 87.4%€0.06mbelow the sector's middle half▲ 20.8%€0.2mwithin the sector's middle half▲ 227%€0.2mwithin the sector's middle half▼ 9.5%€0.2mbelow the sector's middle half▲ 18.5%
Solvency60.2%-50.2%within the sector's middle half▼ 10.0pp27.0%within the sector's middle half▼ 23.2pp31.3%within the sector's middle half▲ 4.3pp32.2%within the sector's middle half▲ 0.8pp36.6%within the sector's middle half▲ 4.4pp41.7%within the sector's middle half▲ 5.1pp
Current ratio3.52-2.62within the sector's middle half▼ 0.911.09within the sector's middle half▼ 1.531.10below the sector's middle half▲ 0.011.42within the sector's middle half▲ 0.321.55within the sector's middle half▲ 0.131.68within the sector's middle half▲ 0.13
Return on assets (ROA)10.1%-11.7%within the sector's middle half▲ 1.6pp7.0%within the sector's middle half▼ 4.7pp6.4%within the sector's middle half▼ 0.6pp-1.0%below the sector's middle half▼ 7.4pp-0.5%below the sector's middle half▲ 0.5pp2.2%within the sector's middle half▲ 2.7pp
Staff (FTE)2.8-3.6above the sector's middle half▲ 28.6%4.3▲ 19.4%4.8below the sector's middle half▲ 11.6%4.3below the sector's middle half▼ 10.4%4.9below the sector's middle half▲ 14.0%5.8below the sector's middle half▲ 18.4%
above
within
below
The sector band is the middle half of the companies in Manufacture of chemicals and chemical products (NACE 20). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is 155% higher than in 2024. It is the second rise in a row, after the fall in 2023.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €1.8m
Fixed assets
€1.3m ▼ 4.4%
Current assets
€497,645 ▲ 3.9%
Equity and liabilities €1.8m
Equity
€733,802 ▲ 11.4%
Debt
€1.0m ▼ 10.0%
Debt's share of the balance-sheet total falls from 63.4% to 58.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€166,272▲
2024 · €163,443
Cash flow
€157,992▲
2024 · €135,821
Quick ratio
0.97▲
2024 · 0.88
Debt to equity
1.40▼
2024 · 1.73
ROE
5.3%▲
2024 · -1.4%
Interest coverage
7.46▲
2024 · 6.10
Debt ≤ 1 year
€296,241▼
2024 · €308,863
Debt > 1 year
€731,244▼
2024 · €833,401
Income taxes
€9,320▲
2024 · €1,026
Staff costs
€286,542▲
2024 · €209,654
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 5 | 5 | 5 | 7 |
| full-time | 4 | 5 | 5 | 7 |
| part-time | 1 | - | - | - |
| in full-time equivalents | 4.8 | 5 | 5 | 7 |
| Average over the year, in full-time equivalents | 4.8 | 4.3 | 4.9 | 5.8 |
| On a permanent contract | 4 | 5 | 5 | 7 |
| Joined | 6 | 4 | 4 | 2 |
| Left | 6 | 4 | 4 | 0 |
Source: social balance sheet in the 2022 to 2025 annual accounts
Securities and guarantees
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Debts secured on the company's own assets | €832,056 | €770,743 | €714,193 | €656,939 |
| Mortgages, amount registered | €100,000 | €100,000 | €100,000 | €100,000 |
| Mortgage mandates | €800,000 | €800,000 | €800,000 | €800,000 |
| Carrying value of the mortgaged assets | €1.1m | €1.3m | €1.2m | €1.2m |
| Pledge on the business | €300,000 | €300,000 | €300,000 | €300,000 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €258,180 | €24,012 | €30,264 | €59,883 |
| Intangible fixed assets | €22,011 | €2,549 | - | €909 |
| Depreciation and write-downs of the year | €128,250 | €136,588 | €145,015 | €119,288 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €197,716 | €203,437 | €209,654 | €286,542 | ▲ 36.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14,855 | €52,786 | €91,936 | €128,250 | €136,588 | €145,015 | €119,288 | ▼ 17.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | €2,943 | - | €252 | -€1,187 | - |
| Other operating charges640/8 | - | - | - | €7,545 | €3,093 | €4,685 | €7,314 | ▲ 56.1% |
| Gross operating margin9900 | €185,739 | €319,512 | €459,781 | €496,782 | €339,451 | €378,033 | €458,941 | ▲ 21.4% |
| Operating profit (loss)9901 | €74,065 | €140,406 | €171,034 | €160,328 | -€3,666 | €18,428 | €46,984 | ▲ 155% |
| Financial income75/76B | - | - | - | €19,251 | €9,058 | €192 | €23,336 | ▲ 121× |
| Recurring financial income75 | €165 | €257 | €40 | €19,251 | €9,058 | €192 | €23,336 | ▲ 121× |
| Financial charges65/66B | - | - | - | €22,987 | €24,342 | €26,787 | €22,296 | ▼ 16.8% |
| Recurring financial charges65 | €983 | €2,403 | €16,703 | €22,987 | €24,342 | €26,787 | €22,296 | ▼ 16.8% |
| Profit (loss) for the period before taxes9903 | €73,247 | €138,260 | €154,371 | €156,592 | -€18,950 | -€8,167 | €48,024 | - |
| Income taxes67/77 | €19,482 | €40,996 | €13,236 | €14,980 | €1,009 | €1,026 | €9,320 | ▲ 808% |
| Profit (loss) for the period9904 | €53,765 | €97,265 | €141,136 | €141,612 | -€19,959 | -€9,193 | €38,704 | - |
| Profit (loss) for the period to be appropriated9905 | €53,765 | €97,265 | €141,136 | €141,612 | -€19,959 | -€9,193 | €38,704 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.5m | €0.8m | €2.0m | €2.2m | €2.1m | €1.8m | €1.8m | ▼ 2.2% |
| Fixed assets21/28 | €0.1m | €0.2m | €1.4m | €1.5m | €1.4m | €1.3m | €1.3m | ▼ 4.4% |
| Intangible fixed assets21 | - | €0.002m | €0.002m | €0.02m | €0.02m | €0.01m | €0.01m | ▼ 30.4% |
| Tangible fixed assets22/27 | €0.1m | €0.2m | €1.4m | €1.5m | €1.4m | €1.3m | €1.3m | ▼ 4.1% |
| Land and buildings22 | - | - | - | €1.3m | €1.3m | €1.2m | €1.2m | ▼ 4.8% |
| Plant, machinery and equipment23 | - | - | - | €0.1m | €0.1m | €0.05m | €0.06m | ▲ 12.1% |
| Furniture and vehicles24 | - | - | - | €0.07m | €0.06m | €0.04m | €0.04m | ▼ 4.8% |
| Financial fixed assets28 | - | - | €0.003m | €0.003m | - | - | - | - |
| Current assets29/58 | €0.4m | €0.6m | €0.6m | €0.7m | €0.6m | €0.5m | €0.5m | ▲ 3.9% |
| Stocks and contracts in progress3 | €0.1m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 1.8% |
| Stocks30/36 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | ▲ 1.8% |
| Amounts receivable within one year40/41 | €0.09m | €0.2m | €0.1m | €0.1m | €0.2m | €0.1m | €0.1m | ▼ 5.1% |
| Trade receivables40 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▲ 5.1% |
| Other amounts receivable41 | - | - | - | - | €0.06m | €0.03m | €0.01m | ▼ 47.7% |
| Current investments50/53 | - | €0.05m | €0.05m | €0.2m | €0.04m | €0.04m | €0.01m | ▼ 72.4% |
| Cash at bank and in hand54/58 | €0.2m | €0.1m | €0.2m | €0.1m | €0.2m | €0.08m | €0.1m | ▲ 66.2% |
| Deferred charges and accrued income490/1 | - | - | - | €0.009m | €0.007m | €0.005m | €0.003m | ▼ 34.2% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.5m | €0.8m | €2.0m | €2.2m | €2.1m | €1.8m | €1.8m | ▼ 2.2% |
| Equity10/15 | €0.3m | €0.4m | €0.5m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 11.4% |
| Contributions10/11 | €0.03m | - | - | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Reserves13 | €0.3m | €0.4m | €0.5m | €0.7m | €0.7m | €0.7m | €0.7m | ▲ 1.5% |
| Non-distributable reserves130/1 | - | - | - | €0.003m | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €0.003m | - | - | - | - |
| Distributable reserves133 | - | - | - | €0.6m | €0.7m | €0.7m | €0.7m | ▲ 1.5% |
| Profit (loss) carried forward14 | - | - | - | - | -€0.02m | -€0.03m | - | - |
| Investment grants15 | - | - | - | €0.004m | - | - | €0.04m | - |
| Amounts payable17/49 | €0.2m | €0.4m | €1.5m | €1.5m | €1.4m | €1.1m | €1.0m | ▼ 10.0% |
| Amounts payable after more than one year17 | €0.1m | €0.2m | €0.9m | €0.9m | €1.0m | €0.8m | €0.7m | ▼ 12.3% |
| Financial debts170/4 | - | - | - | €0.9m | €1.0m | €0.8m | €0.7m | ▼ 12.3% |
| Amounts payable within one year42/48 | €0.1m | €0.2m | €0.6m | €0.6m | €0.5m | €0.3m | €0.3m | ▼ 4.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 17.3% |
| Trade debts44 | €0.06m | €0.1m | €0.2m | €0.2m | €0.2m | €0.09m | €0.09m | ▲ 2.4% |
| Suppliers440/4 | - | - | - | €0.2m | €0.2m | €0.09m | €0.09m | ▲ 2.4% |
| Taxes, remuneration and social security45 | - | - | - | €0.1m | €0.03m | €0.04m | €0.08m | ▲ 103% |
| Taxes450/3 | - | - | - | €0.06m | €0.006m | €0.01m | €0.04m | ▲ 187% |
| Remuneration and social security454/9 | - | - | - | €0.04m | €0.03m | €0.03m | €0.04m | ▲ 57.9% |
| Other amounts payable47/48 | - | - | - | €0.2m | €0.1m | €0.04m | €0.01m | ▼ 73.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.05m | €0.1m | €0.1m | €0.1m | -€0.02m | -€0.009m | €0.04m | - |
| + Depreciation and write-downs630 | €0.01m | €0.05m | €0.09m | €0.1m | €0.1m | €0.1m | €0.1m | ▼ 17.7% |
| Operating cash flow (approximation) | €0.07m | €0.2m | €0.2m | €0.3m | €0.1m | €0.1m | €0.2m | ▲ 16.3% |
| Investment in fixed assets (approximation) | - | -€0.1m | -€1.3m | -€0.3m | -€0.02m | -€0.03m | -€0.06m | ▼ 101% |
| Change in cash | - | -€0.02m | €0.07m | -€0.09m | €0.05m | -€0.09m | €0.05m | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 17,041 companies had the same profile as BIOTOP has now. Two years later, 94.3% were still going and 0.5% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
94.3%
was still going
4.9%
stopped otherwise
0.5%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BIOTOP itself: 0.8% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 17,041 companies, not a prediction for BIOTOP. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Latest 10 of 28 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | full format | 13-10-2025 | 2025-00543333 | |
| 31-03-2024 | full format | 07-11-2024 | 2024-00531136 | |
| 31-03-2023 | full format | 14-11-2023 | 2023-00512555 | |
| 31-03-2022 | full format | 08-11-2022 | 2022-20518346 | |
| 31-03-2021 | micro format | 03-11-2021 | 2021-76400488 | |
| 31-03-2020 | micro format | 03-11-2020 | 2020-68200300 | |
| 31-03-2019 | micro format | 31-10-2019 | 2019-72700592 | |
| 31-03-2018 | full format | 31-10-2018 | 2018-71200149 | |
| 31-03-2017 | full format | 30-10-2017 | 2017-68600390 | |
| 31-03-2016 | full format | 28-10-2016 | 2016-66500566 |